The oil explorer's IPO received bids for 80.93 crore (809.3 million) shares against 2.64 crore (26.4 million) on offer as on 1600 hrs. Investment banking sources said that the portion reserved for qualified institutional buyers got subscribed 54 times, while the non-institutional and retail investors bid 9.77 times and 1.14 times respectively.
The government on Monday fixed the issue price of the initial public offer of state-run explorer Oil India at Rs 1,050 per share, raising a cumulative Rs 4,982 crore.
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